Oil Traders Look for A Bonanza Like 2009


Philips, Matthew [2015], “Oil Traders Look for A Bonanza Like 2009”, Business Week, New York, 22 de enero, http://www.bloomberg.com/bw/articles/2015-01-22/oil-traders-look-for-a-b...

Business Week
Fecha de publicación: 
Jueves, Enero 22, 2015
Idea principal: 

The sudden collapse in oil prices has left the world awash in cheap crude. Analysts estimate that global production of excess oil was between 1 million and 2 million barrels a day. Oil traders are scrambling to find a place to store it all, leasing tankers at the fastest pace since the recession. With any luck, they'll replicate a strategy that won them big profits in 2009, the last time oil was this inexpensive. According to the futures market, the price of oil in September 2015 is only about $6 more than what a barrel fetches today. If production falls even a little bit, current prices could rise faster than future prices, wiping out the opportunity to profit through storage.